Hormuz Under Siege: Iran Taxes Global Shipping Route, Imposes Massive $2 Million Toll As Passage Fee

| Mar 23, 2026, 04:35:19 PM | TOI.in
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Iran has imposed a $2 million transit fee on select vessels passing through the Strait of Hormuz, asserting control over a key global oil route. The move comes amid rising tensions with the US and Israel, following warnings from Donald Trump about potential strikes on Iran’s power infrastructure. Tehran has warned it could completely close the strait if attacked, threatening global oil supply chains. With tanker traffic slowing and geopolitical risks rising, the situation could trigger major disruptions in global energy markets.#StraitOfHormuz #Iran #OilCrisis #BreakingNews #GlobalMarkets #USIranTensions #EnergyCrisis #WorldNews #Geopolitics #ShippingCrisis

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